About the Course

The Economics of Everyday Decisions

Why is it so hard to hail a cab in the rain in New York City? Why do some people pay for annual gym memberships when they would save on a pay-as-you go basis? In this course, we will integrate ideas from the social sciences with economics to understand how our everyday decisions impact the economy. We will use Tversky and Kahneman’s idea of Supposedly Irrelevant Factors to test a range of theories, determine their applicability to our lives, and qualitatively explain several classic behavioral economics scenarios. Later in the course, after studying E. Cartwright’s analysis of breakfast-cereal choice, you’ll conduct your own parallel analysis to choose, for example, a college or a dessert. Individual and group activities will provide a thorough introduction to behavioral economics and its implications for public policy.

Time commitment: 2.5-3.5 hours per week (1.5 hours of class time, 1-2 hours of independent work). Course will include 6 sessions over 6 weeks.

Course Overview

About Advanced Enrichment Courses

These courses offer above-grade-level material that is presented in a novel context, explored with other advanced learners, and guided by a CTY educator to help prepare students for higher-order thinking and college-style academic challenges.

The content in The Economics of Everyday Decisions overlaps with the CTY course Behavioral Economics. Students who have already taken Behavioral Economics may wish to consult with an enrollment advisor before enrolling in this course.

This course is

ungraded.

Classes

Register for an Online course by selecting an open class below. If no open classes are listed, then course enrollment is currently closed. Note: You will need to have an active CTY Account to complete registration through MyCTY.

Tuesdays
-
5 weeks
8:00 p.m. (ET)
$1,365
Enroll

Testing and Prerequisites

  Math Verbal
Required Level CTY-Level or CTY-Level
Check your eligibility using existing test scores If you do not have existing test scores:

Students must achieve qualifying scores on an advanced assessment to be eligible for CTY programs. If you don’t have qualifying scores, you have several different testing options. We’ll help you find the right option for your situation.

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Cost and Financial Aid

  • Tuition
    • Varies
  • Application fee
    • Nonrefundable Application Fee - $15 (Waived for financial aid applicants)
    • Nonrefundable International Fee - $20 (outside US only)

CTY Financial Aid Availability for Online Programs

Academic Year 2025-26 (Course start dates July 1, 2025- June 30, 2026): Financial Aid funding is currently available for all eligible students while funding lasts. If interested in applying for financial aid, please select a course with start date of July 1, 2025, or later.

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Course Materials

Please acquire all course materials by the course start date, unless noted as perishable. Items marked as “perishable” should not be acquired until the student needs them in the course. If you have questions about these materials or difficulty locating them, please contact [email protected].
 

Book Title: Behavioral Economics: The Basics (Second Edition)
Author: P. Corr and A. Plagnol
ISBN: 978-0367764326 

Technical Requirements

This course requires a computer with high-speed Internet access and an up-to-date web browser such as Chrome or Firefox. You must be able to communicate with the instructor via email. Visit the Technical Requirements and Support page for more details.

About History and Social Science at CTY

Our online History and Social Science courses include the study of economics, U.S. history and government, world history, and psychology. Reading and writing are at the heart of all our offerings. Courses for older students cover material typically found in introductory college-level classes, while younger scholars enjoy studying world history and geography. All courses are guided by expert instructors who connect with you through virtual class meetings and interactive review workshops. Whichever course you choose, you’ll gain important insights into the inner workings of government, world civilizations, global culture, and the human mind.

Dig into World History and Geography

In courses, such as The Young Historians - Continents: Africa, Asia, and Oceania, students will explore fascinating historical concepts of the past through historical analysis, engaging discussions, and dynamic live sessions. Students meet with their instructor and peers each week to investigate transformative world events and discuss their thoughts with one another.

Meet our History and Social Sciences Instructors